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Tag: FIRS

  • FIRS introduces new audit tools to boost revenue

    FIRS introduces new audit tools to boost revenue

    The Federal Inland Revenue Service (FIRS) said it has introduced new techniques and audit tools as part of efforts to increase tax revenue collection across its field offices.

    Its Acting Executive Chairman, Alhaji Kabir Mashi, who spoke yesterday at an interactive session with Heads of Audit and their supervisors across the country in Abuja, said framework and template have been designed to monitor audit activities.

    A statement by its Head, Communications and Liaison Department, Wahab Gbadamosi, said Mashi told the auditors that a framework and template is already in place to help monitor audit activities the  drive to increase tax revenue collection.

    “The intention is to extend the new audit techniques currently being deployed through the Capacity Enhancement Programme (CEP) at the Large Tax Offices to all other offices across the country and I hope this will complement the audit model contained in our Integrated Tax Administration System (ITAS).

    “Our plan also includes intensifying our monitoring of audit activities and to this end, we have developed a monitoring framework and template for your tax audit assignments. This would easily check and determine compliance level, check your risk profiling systems, your audit time reporting system and the targets against actual collections at the various levels.”

  • Court seals Ewekoro Power Plant over N114m tax liability

    The Federal Inland Revenue Services (FIRS) said it now has secured a court order to seal Ewekoro Power Plant (EPP), located in Lagos,  for failure to pay its outstanding tax liabilities valued at N114 million.

    FIRS said a Federal High Court, sitting in Abeokuta, Ogun State handed down the order following “a suit by the Federal Inland Revenue Service, (FIRS) and a prayer that a bench warrant be issued by the Federal High Court, for the arrest of the key officials of the company who evaded arrest.”

    Its Head, Communications and Liaison Department, Mr. Wahab Gbadamosi said in a statement that “the court gave the order after series of adjournments occasioned by the refusal of the company’s officials to appear in court in the case brought against it by the Service.”

    The seal up exercise he said “was carried out by the court bailiffs, with a combined team of the FIRS officials and officers of the Lagos State Police Command.”

    He added that the FIRS  “had approached the court to compel the company to meet its tax obligations but the company neither appeared nor was represented in the court prompting multiple adjournments.”

    The FIRS statement noted that “dissatisfied with the company`s conduct, the court issued a bench warrant to compel appearance which the officials of the company equally evaded necessitating the sealing of the company’s premises.”

    Justice P.F. Olayiwola, who ruled on FIRS motion on notice had ruled “that an order for interim forfeiture of property of corporate head office of Ewekoro Power Plant situate at Victoria House, 35/37, Isheri Road, Aguda Ogba area, Ikeja, Lagos State pending final liquidation of the tax liability of about N114,000,000  only is hereby granted.

    “That an order for interim forfeiture of property of Ewekoro Power Plant situate at 3rd floor, Topaz floor, All Seasons Plaza, 24 Lateef Jakande Road, Agidingbi, Ikeja, Lagos State pending final liquidation of the Tax liability of N114,000,000 only is hereby granted.”

  • Fed Govt laments mass ignorance about FIRS roles

    Fed Govt laments mass ignorance about FIRS roles

    The Federal Government has lamented the ignorance of a large number of Nigerian tax payers about proper understanding of the role the Federal Inland Revenue Service (FIRS) plays in national development.

    The Accountant General of the Federation (AGF) Mr. Jonah Otunla raised this issue yesterday in Abuja at the FIRS Stakeholder Engagement Forum.

    Otunla noted that it was the obligation of tax payers to support the FIRS in the effective discharge of its mandate of collecting and accounting for all tax revenues.

    He said: “As the largest economy in Africa, we must leverage our areas of strength to prop up those areas, where we are still lagging behind. To improve revenue collection, we will all need to do more than we are currently doing at the moment.”

    The recent rebasing of Nigeria’s Gross Domestic Product (GDP) he said, “shows that our GDP to tax ratio is about  12 per cent, which is below the average of 20 per cent for other emerging economies. It is therefore necessary for the FIRS to engage with all relevant stakeholders to find more effective ways of growing the non-oil tax revenues.”

    The AGF also stated that the Government Integrated Financial and Management Information System (GIFMIS) will now manage the expenditure transactions, including payments of Ministries, Departments and Agencies (MDAs) and that of the FIRS. As a result, he urged the FIRS to utilise the interface with financial systems of MDAs on this platform to enhance revenue collection.

    In his address, the the Ag. Executive Chairman of FIRS Alhaji Kabir Mashi said  “with the assistance of McKinsey, the FIRS has identified eight key initiatives as a platform for achieving our goals. These initiatives are in the areas of audits, arrears and debt enforcement, review of tax exemptions, evasion of rental taxes, taxation of high net worth transactions, registration, filing and communication as a means of enhancing compliance.”

    He said the FIRS has started “to implement these initiatives and we are already seeing results spread across the eight initiatives.”

    The Forum he said “provides an opportunity to solicit the continued cooperation of our stakeholders to ensure that we are able to fulfil our core mandate of revenue generation in a manner that is sustainable and carries everyone along.”

  • Change in accounting date: Tax implications

    Change in accounting date: Tax implications

    Different and sometimes challenging business decisions can force companies to change their accounting dates. Sometimes regulatory pronouncements such as that issued to banks post consolidation to have a uniform year end was an event which saw all banks in one fell swoop change their different accounting dates to December. While some companies have adopted calendar years, some others use fiscal years, whichever method is adopted is subject to tax implications. Whereas in the United States the Internal Revenue Service (IRS) must give permission for companies to change their accounting dates, especially to tackle tax avoidance, and may take as much as 10 years to effect another change in some cases, it is not yet so in Nigeria, an area which should be addressed.

    However, a lot of companies still do not know that there are tax implications to change of dates in their accounting period beyond the approval they get from their shareholders to do so. The FIRS being aware of different methods applied by tax consultants and tax officers in the treatment of changes in accounting dates, with each method yielding different results in under-assessment or incorrect assessments levied on taxpayers issued a circular in February 2006 as a guide to officers who have responsibility for filing and assessment duties, and those who may be required, as a matter of duty to carry out preliminary reviews on tax returns submitted by companies as well as officers vested with audit responsibiliq`ties, who from time to time will come across cases of change in accounting dates in the course of their audit assignment.

    Changes in accounting dates

    There are a number of reasons why a business may wish to change its accounting date and these reasons may include:

    i) The need to synchronize the accounting date of a subsidiary with that of the holding company.

    ii) The convenience of stock taking at a particular period of the year.

    iii) A business may take over the operation of another and as a result wish to change the accounting date of the company taken over to that of its own.

    Where a change in accounting date takes place, be it a sole trader, partnership or a limited liability company, the provisions of section 29(4) of the CAP 21 LFN of 2004 will apply. The Act provides that the Tax Authorities have the power to decide the basis of computing the tax liability for the year in which the change occurs and the two following years of assessment.

    As should be expected, the tax official will base his decision on the best advantage to the tax authority. It is important to note that the three relevant years to be considered are:

    i) The assessment year in which the accounting date becomes different from the date of the earlier years.  This is known as the year when the change occurred.

    ii) The next two years of assessment following that in which the change occurred.

    In practice, calculations are made on both the old and new dates. The greater of these two aggregates will be the likely choice of the revenue authority.

    Years involved in the tax computations

    Whenever a request for a change of accounting date has been approved, the company making the change shall be assessed to tax through a special process of determining the basis of assessment.  This process requires computations for three relevant years. Where the year of cessation is involved (ultimate year) in these three relevant years, the request for a change shall not be approved.  However, where the year immediately before the year of cessation (penultimate year) is involved in these three relevant years, the request may be approved by the FIRS, depending on other evidences before it.

     Assessment procedure on change of accounting date

    For an on-going business, assessment is based on preceding year.  But whenever there is a change of accounting date, a normal accounting period may not have ended in the year of change.  This is so because when there is a change of accounting date, it is either that an account is prepared for more than twelve months to the new accounting date or even less than twelve months to the new accounting year end. The FIRS will often adopt the following procedures to determine the assessments for the three relevant years:

    i) Identifying the first year in which the business has failed to make up the accounts to its usual accounting date.

    ii) Identifying the two years immediately following the year of failure.

    iii) Computing assessable profit for the three relevant years based on the old accounting date (on preceding year basis).

    iv) Computing assessable profit for the three relevant years based on the new accounting date (on preceding year basis).

    v) Adding up the assessable profits for the three years in (iii) and (iv) above separately.

    vi) Selecting the higher of the two profits added up in (v) above.

    Illustrations

    Example 1

    Julius Blake Nigeria Limited has been in business for many years. It has for a long time prepared its annual accounts up to 30th April.  In 1996, it decided to change its accounting date to 31st October.  Available figures showed its adjusted profits as follows:

                    N                            (No. of Months)

    Year ended                       30/4/1995                          450,000                 12

    Period ended                   31/10/1996                        830,000                 18

    Year ended                       31/10/1997                        590,000                 12

    Year ended                       31/10/1998                        600,000                 12

    You are required to compute the correct assessments for all the relevant years in the light of the change in accounting date.

     Solution

    Julius Blake Nigeria Limited

    Computation of Assessment

    Note: The last account submitted before the change was 30th April 1995.  Therefore, the year of change is 1996.  The three relevant years are therefore 1996, 1997 and 1998.

    a) Original Assessments (Based on old Accounting date of 30th April)

    Year of Assessment. Basis Period Assessment

    1996 P:Y.B(1/5/94-30/4/95)     N450,000

    1997    1/5/95 – 30/4/95 12/18 x 830,000 N553,333

    1998 1/5/96 – 30/4/97 (6/18 x 830,000) + (6/12 x 590,000) N571,667

     

    b)         Assessment Based on 31st October

    Year of Assessment. Basis Period Assessment

    1996 1/11/94 – 31/10/95 (1/11/94-30/4/95) + (1/5/95-31/10/95)  (6/12 x 450,000) + 6/18 x 830,000) N501,667

    1997 P.Y.B. to 31/10/96 1/11/95 – 31/10/96 12/18 x 830,000 N553,333

    1998 P.Y.B. to 31/10/97 N590,000

    c)          Summary of Assessments

    Year                        Old date of                            new date of

                                         30th April                             31st October

    N                                            N

    1996                       450,000                                501,667

    1997                       553,333                 553,333

    1998                       571,667                 590,000

    1,575,000                              1,645,000

    Conclusion:

    The Revenue Service will choose to raise assessments on the basis of the new accounting date as it results in greater assessment.

     

     

  • FIRS raids NICON Insurance, hotel in Abuja

    The Federal Inland Revenue Service (FIRS) on Thursday carried out enforcement activities on NICON Luxury Hotel and NICON Insurance limited both in Abuja for alleged failure to remit more than N90 million outstanding tax liabilities due to the government.

    A statement from the FIRS signed by the Head, Communications and Liaison Department, Mr. Wahab Gbadamosi, said officials of both NICON establishments “are currently being interrogated by the officials of the FIRS Special Investigation and Enforcement Unit.”

    The investigation he said “is aimed at recovering arrears of taxes accruing to government from Companies Income Tax (CIT), Education Tax (EDT), Withholding Tax (WHT) and Value Added Tax (VAT).”

    Gbadamosi said, “the Service had served series of notices on the companies to pay their outstanding tax liabilities or being compelled to do so.”

    However, the companies, the FIRS official said “had admitted owing outstanding tax liabilities when the enforcement team called at their offices.”

     

  • FIRS goes tough on corporate, individual tax evaders

    Acting Executive Chairman of the Federal Inland Revenue Service (FIRS), Alhaji Kabir Mashi, has warned tax evaders to desist from such act as the agency will bring the full weight of the law against corporate and individual tax evaders.

    The FIRS boss gave the warning at a public forum in Lagos, where he impressed on taxpayers, the need to fulfill their tax obligations voluntarily rather than act in breach.

    Titled: ‘Tax returns: Stakeholders’ collaboration for voluntary tax compliance and taxpayers’ rights and obligations’, the event was organised by Medium Tax Office (MTO), Lagos Mainland with participants drawn from the public and the organised private sector.

    According to Mashi, who was represented by Mr. Peter Olayemi, the Director, Medium Tax Department, FIRS, ensuring tax compliance by individuals and companies lies squarely on tax professionals, who must not encourage their clients to shirk their civic responsibility.

    “It is no longer business as usual for individuals and companies who circumvent tax laws, henceforth culprits will face the full weight of the law, Mashi said.”

    According to him, timely advice in reminding taxpayers of their obligations and letting them know the implications of non-compliance is key to the development of our tax system.

    The FIRS boss also hinted that the Service has since introduced the i-tax, an integrated tax administration system which seeks to leverage technology in the collection of tax revenue across the country, has begun with a pilot phase in the Federal Capital Territory (FCT) and will roll out nationwide at various FIRS offices before the end of the year.

    Earlier, in his welcome address, Mr. Bamidele Ajayi, the Coordinating Director, Field Operation Group, FIRS, said the Service deemed it fit to organise the interface and discussion forum: “To deliver quality service to taxpayers in partnership with other stakeholders and make taxation the pivot of national development.”

    Ajayi, represented by Mr. Bamidele Aina, the Deputy Director, Medium Tax Department, FIRS, while acknowledging that the workshop was first in the series of awareness campaign since the inception of the Medium Tax Office, said it would be continuous.

    In separate papers, Mr. Bisi Babalola and Mr. Adekunle Salami both of FIRS,  stressed the need for voluntary tax compliance as well as encouraged taxpayers to understand their rights and obligations in the various tax regime.

  • Death; NLC Housing; UK harmattan; Delegates local travel; State vs federal party

    Death; NLC Housing; UK harmattan; Delegates local travel; State vs federal party

    Too many deaths and kidnapping, more than 80 this week: ethnic, mindless violence, road and boat accidents, robbery, Fulani cattle related, for body parts!

    In response to ‘Nigeria needs 17million homes’, the NLC/TUC building project in Abuja is fantastic and should be replicated. Lagos is also working in this direction if the federal government will hands-off interfering. Too many associations waste money on expensive AGMs, dinners and five star hotels mimicking wasteful National Assembly (NASS) politicians. All states and associations should build as well, because the federal government may never build enough housing quickly enough!

    We have had zero allocation of power for one month+ but Federal Inland Revenue Service (FIRS) and states joyfully tax and levy citizens and business while banks charge 25% for loans. But no rebate for patrol purchases during no power! Maximum suffering and no smiling on the Lagos-Ibadan Expressway under construction companies not interested in adequate two lane alternative routing for impatient drivers too willing to ‘face me-I face you’ at a moment’s inconvenience. Federal Road Safety Commission (FRSC) is too busy gathering N10-16billion in number plate money, particulars check and TV appearances for simple traffic control. And now there is hamattan in London caused by local smog and dust from the Sahara. Wow!

    As part of ‘The National Learning And Healing Process’, National Conference Nigerians can learn to bridge ethnic and religious differences by travelling locally. Young delegates from the North should visit the South including gas flares at night and oil spill dead farms and fishing villages of the Niger Delta, erosion in the East and the Lagos-Ibadan and East-West roads. All South delegates should visit the North including the huge farms, a night on the caked dry shore of Lake Chad, the borders of the Sahel to witness the desertification and decay in family life. Mingle with both herdsmen and farmers! Such a trip meeting locals, not Emirs and chiefs, will improve inter-ethnic, religious and mutual respect.

    The Non Sovereign National Conference (NSNC) must counter negative development strategies of federal ministry officials and ministers occurring because the central federal party is not the state party. Federal employees are sometimes teleguided against the state’s progress instead of creating symbiosis for development creating abandoned federal projects and neglect. The federal government is not supposed to be a party government for the benefit of only ruling party states. Federal punishment for states having a different party has been around forever. President Shagari promised the Third Mainland Bridge to Lagos living Nigerians, only if he was re-elected. PDP Obasanjo depriving AC Lagos of N10b. A presidential legacy president should develop all citizens. Look at the East-West Road, Second Niger Bridge and the Lagos-Ibadan and Ore-Benin roads problems.  Indigenes of states sit at ministerial meetings where their state is brought up for ‘dirty tactics’. Did someone actually say ‘Hey guys, how can we destabilise Lagos State? Any ideas, you Lagosians?’or maybe ‘I have an idea to destabilise my State Lagos’. And did someone “phone a friend” in Lagos and reply ‘Let us seize some land and tie them up in court so they cannot build those 1000+ flats. Let’s stop that Lekki bridge, Ha ha!’ Would a united northerner do that? Using Federal soldiers in your own state in a civilian era speaks of desperation, poor democratic credentials and zero respect for the rule of law. Are federal Lagosians no longer Lagosians when even the NSNC is wrestling to decentralise power, no matter what party is federal -North, South, Muslim, Christian? Look at the Rivers State imbroglio. Federal ministers should not be at war with the ‘other party’ state party officials. Admit good done by opponents and suggest you will do better. Do not rubbish progress. The people will not take bribes instead of services for ever.

    Nigeria and its states, even Lagos State with all its Fashola progress and struggle to be glamorous, are far behind their expected position in 2014. Lagos State is larger than 50 countries in population and income and should be allowed to act like a country. So why should a Lagosian in politics get to the NASS or Federal Executive Council (FEC), using his birth certificate as a Lagosian, and conspire to retard Lagos? Is it just for cheap federal political points in the political game? That is how the some SDP states foolishly forced good NRC Shagari federal housing schemes to be built in the inaccessible bush. The political game is killing and depriving people of housing, food, power, water, education, health, jobs, railways and roads. Do those in the United North countenance such self-destruction? No. Only the South destroys its home states. Yet it is that state wherein their own relations suffer power failures. It is not just Lagos. Ekiti and Osun are hotting up, murderously. How many lives will be lost for political power, this 2014-15?

    No one should single out his state for devilish destruction. We Lagos State citizens call on all Lagosians in federal power not to execute- with or without soldiers- negative plans. This ‘State Pledge’ is common to other states. No official in the federal government, originating from Kano, Plateau etc would ever do anything against their state. Of course they could refuse to educate or provide health and infrastructure for citizens but they would not block funds or progress getting to the state. State development must not be sacrificed by federally based state citizens because of party affiliations.

  • Well done

    Well done

    • FIRS’ performance for 2013 is impressive, but there is always room for improvement

    In a year more remarkable for declining revenues– courtesy of the menace of oil theft and associated production shut-ins – the Federal Inland Revenue Service (FIRS) obviously has every reason to roll out the drums to celebrate a performance that could pass for sterling. Last week at a retreat in Abuja, FIRS acting executive chairman, Kabir Mashi, while giving his agency a pass mark, stated that it raked in N4.8trillion from taxes in 2013 –a leap of 7.56 percent over the preceding year’s haul of N4.46 trillion.

    In the breakdown, non-oil sources alone accounted for N2.139 trillion – a three percent shortfall from initial projection of N2.188 trillion. In terms of overall performance, the FIRS boss would also admit that it fell short of its target of N5.8 trillion by 17.18 percent.

    On the surface, the performance figure looks impressive. What the figure indicates is that the fruits of the massive reforms undertaken by the FIRS in the last few years have not only endured but have also assumed some degree of permanence. However interpreted, the trend would merely confirm the immense possibilities in the realm of taxation – of the vast potentials waiting to be harnessed for national development.

    Overall, we must say of the FIRS performance that it offers only cold comfort given that the dominant portion – indeed, close to 60 percent – of the entire tax revenue is inextricably linked to oil one way or the other.

    The FIRS can do exceedingly more provided the conditions are vastly improved. We recognise the main challenge as one of deepening and diversification of the economy – something beyond its remit. Unfortunately, without deliberate steps by the Federal Government to address the nation’s infrastructure challenge, the prospects of expanding the tax base would remain illusory.

    Just as there would always be room for improvement, the FIRS, has, in our view, demonstrated both the will and capacity to deliver on its mandate. Perhaps what is needed now is another look at its environment with a view to removing possible cogs impeding its progress.

    Obviously, one of the most important issues that would need to be addressed is the Santa Claus disposition of the Federal Government which allows billions of needed revenues to be thrown away via income tax exemptions every year under its omnibus quest for foreign direct investment. Just last week in Abuja, the African Civil Societies Organisation reported a Non Governmental Organisation – ActionAid – as putting the losses from statutory income tax exemptions of developing economies at $138 billion annually, even when the benefits of the exemptions remain to be seen.

    Even without the topsy-turvy experience of declining accruals into the federation account since the beginning of last year, particularly the scourge of oil theft said to have reduced oil export by nearly 20 percent, the nation would still have had to address in some comprehensive manner, the issue of tax and tariff exemptions. This is because the exemptions, aside draining the economy of needed revenue, are known to constrain the revenue agencies from performing their statutory functions. Worse still is that they have come to be associated with corruption and influence peddling at the highest quarters of government.

    A most notable illustration of this trend is the Nigeria Customs Service said to have issued waivers and exemptions of N1.4 trillion between 2010 and 2013 – as against the initial figure of N170 billion provided by Finance Minister Ngozi Okonjo-Iweala. Just as the benefits of the humongous waivers and exemptions to the economy remain to be seen, also noteworthy is that the Federal Government has not thought it fit to offer explanations for the huge discrepancies till date.

    Having proven what is possible, an agency like the FIRS obviously needs all the help it can get from government to help it succeed. The agency on its part should never see its work as done until all eligible taxpayers are brought into the tax net.

     

  • $500m more coming from non-oil taxes, says FIRS

    $500m more coming from non-oil taxes, says FIRS

    The Federal Inland Revenue Service (FIRS) plans to rake in additional S500 million from non-oil tax collection this year, the Acting Executive Chairman, Alhaji Kabir Mashi, has said.

    Alhaji Marshi, who made known yesterday in Abuja at the maiden retreat and enlarged management meeting organised for  top management of FIRS, said the drive for increased revenue from non-oil tax will be initiated through the Capacity Enhancement Programme (CEP).

    He said: “It is necessary to improve upon non-oil tax collection for a number of reasons, major among which is the increasing global need to reduce the over-dependence on oil revenue.

    “Government is targeting revenue accruals of N1.789 trillion from Petroleum Profit Tax (PPT), N1.030 trillion from Companies Income Tax (CIT), N96 billion from CIT on gas, N861 billion from Value Added Tax (VAT) and N10.21 billion from Capital Gains Tax, while N8.46 billion is expected from stamp duties, and Education tax, personal income tax and technology levy are expected to contribute N156 billion, N59billion , N10.6 billion respectively to make up total government’s target of N4.21 trillion.”

    To achieve these targets, the FIRS boss challenged his staff, saying, ”there is work to be done. We have on-going nationwide VAT and Withholding verification exercise, and depending on the gains from this exercise, we may extend this later in the year.”

    Shedding light on last year’s performance, Marshi stated that though the FIRS surpassed its revenue target for 2013 by N337 billion, or 7.56 per cent, he regretted that the performance was below the Service’s target of N5.803 trillion, or  17.18 per cent.

    “A closer review of the figures of our non-oil collection will reveal an actual collection of N2.139 trillion, which falls short of the government’s target of N2.188 trillion by about three per cent.”

    Meanwhile, as plans kicked for the seventh Joint Annual Meeting of the African Union-Economic Commission for Africa conference in Abuja, today, African Civil Societies Organisations have called on African governments to end the use of tax incentives to woo investors.

    The CSOs said tax incentives provided by many African countries to investors could trigger illegal movement of money among African countries.

    The Representative of the African CSOs consultative forum, Mr Kola Banwo, said evidence has shown that tax incentives are not required to attract foreign investment in most African countries, argued that “estimates from studies conducted by ActionAid, showed that $138 billion was given away by governments in developing countries every year as statutory income tax exemptions”.

    The coalition urged African countries to demand an inclusive and multilateral global tax reform process in which effective participation of all stakeholders, including civil society organisations are guaranteed in shaping the new international tax rules.”

    They urged on African countries to protect their revenue bases and review their double taxation treaties, adding that illicit financial flows have continued to deprive the continent of funds for progressive and gender responsive services.

  • FIRS gets N4.21trn revenue target for 2014

    The Federal Government has given the Federal Inland Revenue Service (FIRS) a N4.21 trillion revenue target for 2014, the Acting Executive Chairman of the Service, Alhaji Kabir Mashi, has said.

    Mashi stated this on Monday in Abuja at the 2014 Corporate Plan Retreat and Enlarged Management Meeting of the Service.

    He said that the Service was expected to collect N1.79 trillion from Petroleum Profit Tax (PPT), N1.03 trillion from Companies Income Tax (CIT) and N96 billion from gas component of CIT.

    Other sources, he said, include N861 billion from Value Added Tax (VAT), N10.21 billion from Capital Gains Tax, and N8.46 billion from Stamp Duties.

    Mashi said the Service was also expected to collect N156 billion, N59 billion and N10.6 billion from Education Tax, Personal Income Tax and Technology Levy, respectively during the period.

    He said that FIRS surpassed its 2013 revenue target by N337 billion or 7.56 per cent, adding that it collected N4.805 trillion as against the targeted N4.468 trillion.

    He, however, stated that the actual collection from non-oil revenue in 2013 fell short of government’s target of N2.188 trillion by three per cent, but assured that it would be improved on in 2014.

    “One proactive step that has been taken in respect of growing non-oil revenue tax is the take-off of the Capacity Enhancement Programme (CEP) towards delivering additional non-oil revenue in the current year.

    “We have every intention of sustaining and hopefully improving upon the standards that the service has come to be known with in terms of delivering results in recent time,’’ he said.

    Mashi said that the retreat was aimed at further addressing FIRS management’s desire to grow tax revenue for development, particularly non-oil revenue which held significant potential.

    Earlier in her welcome address, Mrs Queen Seghosime, FIRS’ Coordinating Director, Direct Report Group, said that the meeting was an annual forum where important strategic decisions of the Service were taken.

    Seghosime added that the retreat would provide the management team the opportunity to brainstorm on the organisation’s corporate plan to meet its revenue forecast and corporate aspirations.